Middle East

Suez surpasses Panama in US East Coast calls

Cairo: Recent data issued by the UK’s Drewry Maritime Research shows that for the first time in history a majority of containerlines are using the Suez over the Panama Canal to reach US East Coast ports from Asia. Drewry stated that 52% of all ship calls from Asia to the US East Coast transited the Suez Canal, symptomatic of the fact that the Egyptian waterway can handle larger ships, as well as the longer route tends to soak up more capacity helping push up freight rates.

The Panama Canal’s expansion plans are expected to be completed in 2016, while authorities in Egypt are building an additional channel along the existing canal.  [12/11/14]

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